[This post is Part 2 of the Build Your Sales Funnel series, a 10-part series. Here's Part 1. Every company needs to build a sales funnel to maximize revenue.] Amusement parks know that there are millions of thrill-seekers like me who are willing to pay to ride rollercoasters. They also know that there are millions of people who don't prefer fast rides. Parks are designed to accommodate both, helping to optimize their revenue. They know that families and groups are made up of thrill seekers and those who like to play games and watch shows. And those willing to watch the kids and eat a funnel cake... When we're building our sales funnels, we need to identify customer needs. Actually, to know what it is that customers really want. Customers often don't buy what they need, but they do buy what they want. I've struggled with this one. I see that companies need strategy help, but many only want marketing help, which is just a portion of the goodness I can offer. For a long time, I tried to convince them of their need, until I finally relented and started selling what they wanted, and Big Think's revenues doubled almost overnight. Finding the Fit Market Fit is the term used to describe the proper fit between a product/service offering and what customers want. To see more about this, see Fit Product to Market, which is the first part of the Big Think Revenue Generator model. You need to find what customers are actually searching for on the Internet, and what they are buying in stores. What flies off the shelves versus what just takes up shelf space. There are several approaches to discover or identify customer needs and wants: Ask people Observe [...]

I love rollercoasters. I'm an admitted risk junkie - pilot, SCUBA diver, hang glider, skydiver - you get the picture. I love it. But there's nothing quite like a great rollercoaster to get the heart pumping. And it makes a great analogy to building a profitable business. For me to get to ride my favorite ride, I have to: Find a day my boys and I can go (they're my rollercoaster buddies, and if I go without them, it wouldn't be pretty) Drive four hours to get to King's Dominion (or more for Busch Gardens) Pay for parking and park the car in the expansive lot and try to remember where I parked (we usually get there before it opens, so parking is closer) Buy the tickets ($50+ bucks each) and enter the park Walk/run/sprint to the coolest coaster before the line piles up Stand in line at the ride FINALLY get to ride the rollercoaster (for about 60 seconds) FUN! Here it is in a sales funnel form: It's totally crazy when I break it down like that. Eight hours of driving, a few hundred bucks once you factor in tickets, food, and gas. All for about 20-30 60-second-or-less rides, depending on the crowd. But the park was built for me. And millions of others like me. It is a destination because they created the product I want to consume. Application to Your Business The same thing goes for our businesses. Some people have a more difficult time explaining WHY someone will want to experience what they offer. But let's break down the application to our businesses, because I think it's a great analogy: Identify the Need/Pent-up Demand. People have to know they need something to start searching for [...]